US stocks edged higher on Thursday, continuing the market's recent upward trend as expectations for steady accommodative monetary policy for the foreseeable future offset a mixed batch of earnings and economic data. The S&P 500 is on track for its tenth gain in the past 12 sessions, a rally largely driven by expectations the US Federal Reserve will continue its stimulus, which has propped up the equity market and economy for much of the year. The S&P closed at a record on Tuesday.
The Dow Jones industrial average was up 67.75 points, or 0.44 percent, at 15,481.08. The Standard & Poor's 500 Index was up 2.83 points, or 0.16 percent, at 1,749.21. The Nasdaq Composite Index was up 18.22 points, or 0.47 percent, at 3,925.30. Ford rose 1.2 percent to $17.74 after the automaker boosted its full-year global earnings and margin outlook, helped by an improved forecast in Europe and better-than-expected results in the third quarter. Dow component 3M Co was flat at $123.11 after its results.
On the downside, both AT&T and Dow Chemical fell after results missed expectations. AT&T, a Dow component, fell 1.3 percent to $34.81 while Dow Chemical lost 0.4 percent to $40.85 after its results. Xerox slumped 9.7 percent to $9.69 after a weak outlook.
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